CCA Construction: $1.6B Baha Mar Judgment Drives Chapter 11

CCA Construction, Inc. filed for chapter 11 in New Jersey on December 22, 2024 after a New York state court entered a roughly $1.6 billion fraud judgment in the decade-long Baha Mar resort dispute. The debtor described itself as the U.S. holding and shared-services company within China Construction America, a subsidiary of China State Construction Engineering Corporation (CSCEC), and emphasized that its operating subsidiaries would continue to perform construction and project-management work outside the bankruptcy case. The filing posture made the case less about a collapsing project pipeline and more about controlling litigation leverage and judgment enforcement while preserving an appeal pathway that was constrained by bond requirements and the practical difficulty of obtaining a supersedeas bond at the judgment size.

The chapter 11 case developed into a governance- and litigation-centric restructuring. The debtor obtained an insider DIP facility from CSCEC Holding Company, Inc., sought and received court authority to prosecute the New York appeal notwithstanding the automatic stay, and later became subject to examiner oversight that was ultimately limited to reviewing the process and methodology of a board special committee investigation. In late 2025, the parties reached an undisclosed settlement that cleared the way for a plan process: the debtor filed a Disclosure Statement and an Updated Plan that pair a settlement-driven balance-sheet reset with an internal transfer of certain assets to a “purchasing entity” owned by the DIP lender, while proposing cash payment in full to general unsecured creditors and cancellation of existing equity.